Below are amounts found in the income statements of three companies. Company Henry Net Sales Cost of Goods Sold Operating Expenses Nonoperating Expenses Income Tax $50,000 $15,000 $5,900 $2,900 Expense $2,900 Grace 53,000 39,220 James 58,000 38,280 14,100 3,900 7,900 0 3,900 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. 2-a. For each company, calculate the gross profit ratio. 2-b. Which company has the most favorable ratio?